• The AVERAGE house edge if taking insurance is 8%.
There is a precise mathematical formula:
HA = {(R – T) – T*2} / R
• HA = House Advantage
• R = cards Remaining in the deck
• T = Tens remaining in the deck.
The two main factors are:
1) number of cards remaining in the deck
2) number of 10-value cards that came out in the round.
Believe it or not, axiomatic ones, there are situations when the insurance is very favorable to all players at the same time. The key factor is: 'NUMBER OF TENS that came out in the current round'. The calculations are even better if keeping track of the Tens (i.e. 10 and figure cards) that came out in the previous round AND the current round.
If you don’t bother to count (very simple and easy), then you should never take insurance!
The calculations are so astounding that casinos started to pay insurance ‘1 to 1’. No blackjack gambler should accept such a “crime”! All the facts are here, formulas and case scenarios based on number of players:
•
https://forums.saliu.com/blackjack-insurance.html
• “Mathematics of Blackjack Insurance: Bet Favorable to All Players at the Same Table”.